Transitional Relief Extension
The transitional relief scheme was introduced in 2017 to help those ratepayers who faced higher bills due to the revaluation. The scheme was expected to end on 31 March 2022, and as a result, some ratepayers would face an increase to their bill from 1 April 2022. At the Budget on 27 October 2021, the government announced that it would extend the transitional relief scheme to 31 March 2023.
The scheme will restrict bill increases to:
- 15% for businesses with small properties (up to and including £20,000 rateable value)
- 25% for medium properties (up to and including £100,000 rateable value).
This relief will be granted automatically to your business rate account if you are eligible.
Properties that will benefit from the scheme
Properties that will benefit must meet the following criteria:
- have a rateable value up to and including £100,000
- would have received transitional relief had the scheme not ended
Thresholds for the scheme
The £100,000 rateable value threshold is based on either:
- the rateable value shown for 1 April 2017
- the substituted day in the case of splits and mergers
This policy does not apply to those moving to lower bills, their bill will reduce on 1 April 2022.